NLC INDIA multiyear breackout |multibagger stock
**Monthly Chart Analysis:**
- **Price Action:**
- Price near 2007 resistance, consolidating for 2 months.
- Formation of a bullish flag pattern, indicating potential for further upward movement.
- **Technical Indicators:**
- EMA 50 and 20 below price, indicating an uptrend.
- Fibonacci support at 0.618 golden ratio.
- RSI above 80, indicating price strength.
**Entry Strategy:**
- **Approach 1:**
- Wait for breakout above resistance (price above 300).
- Enter with a buffer of 5% above breakout level.
- Set stop loss below breakout candle's low.
- Target: Pattern target (cup and handle) at 521 or Fibonacci extension at 620.
- Note: As this is a monthly chart, reaching the target may take a year or more.
- **Approach 2:**
- Entry within price range of 194 to 232.
- Set stop loss below 175.
- Target remains the same as above.
- Note: This approach may take a longer time to reach the target
**Disclaimer:**
The information provided is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. Trading and investing in financial markets involve risk, and past performance is not indicative of future results. Always conduct thorough research and consider your risk tolerance before making any investment decisions. Additionally, the analysis provided is based on historical data and technical indicators, which may not accurately predict future market movements. Users are encouraged to consult with a qualified financial advisor or conduct their own analysis before making any investment decisions. The user assumes all responsibility for their investment decisions and trades.
- **Price Action:**
- Price near 2007 resistance, consolidating for 2 months.
- Formation of a bullish flag pattern, indicating potential for further upward movement.
- **Technical Indicators:**
- EMA 50 and 20 below price, indicating an uptrend.
- Fibonacci support at 0.618 golden ratio.
- RSI above 80, indicating price strength.
**Entry Strategy:**
- **Approach 1:**
- Wait for breakout above resistance (price above 300).
- Enter with a buffer of 5% above breakout level.
- Set stop loss below breakout candle's low.
- Target: Pattern target (cup and handle) at 521 or Fibonacci extension at 620.
- Note: As this is a monthly chart, reaching the target may take a year or more.
- **Approach 2:**
- Entry within price range of 194 to 232.
- Set stop loss below 175.
- Target remains the same as above.
- Note: This approach may take a longer time to reach the target
**Disclaimer:**
The information provided is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. Trading and investing in financial markets involve risk, and past performance is not indicative of future results. Always conduct thorough research and consider your risk tolerance before making any investment decisions. Additionally, the analysis provided is based on historical data and technical indicators, which may not accurately predict future market movements. Users are encouraged to consult with a qualified financial advisor or conduct their own analysis before making any investment decisions. The user assumes all responsibility for their investment decisions and trades.
Disclaimer
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